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Literary and historical activities in North Carolina, 1900-1905, Vol. 1

246 LiTEEAEY AXD HISTORICAL ACTIVITIES
corporations under tlie Tudors threatened English prosperity
the eighth Henry confiscated their property (as has been done
in our day by Mexico and other Latin countries) and redis-tributed
their accumulations. He might have added that
when the new commercial monopolies under his daughter
Elizabeth bade fair to take the place of the suppressed eccle-siastical
foundations in recreating inequality, the Commons
called on her to pause, and that haughty, unbending sover-eign
had the common sense to save her throne by yielding.
Mr. Webster also utilized the occasion to point to the fact
that in Erance, by her exemption of nobles and priests from
taxation, property had gravitated into their hands till the
wild orgy of revolution had retransferred it to the people ;
and he prophesied that the new law in that country which:
by restricting the right to will property had prevented its
accumulation into a few hands would inevitably destroy the
restored monarchy and rebuild the republic. His prophecy
has come true.
The great expounder of the Constitution was right. Power
goes with those who o^vn the property of the country. When
property is widely distributed and a fair share of the com-forts
of life are equally in the reach of all, a country will
remain a republic. When property, by whatever agency,
becomes concentrated in a few hands, a change is impending.
Either the few holders will bring in, as he stated, an army
that will change the government to a monarchy, or revolution
will force a redistribution, as in England and France. That
has been the lesson of history.
In this day of wider intelligence and general education,
let us hope and believe that there is a third way, hitherto
unknown in practice, and that by the operation of just and
wiser laws enacted by the sovereigTity of the people, a more
just and equal distribution of wealth will follow and the
•enjoyment of material well-being will be more generally
diffused among the masses. All power is derived from and
belongs to the people, and should be used solely for their good.

246 LiTEEAEY AXD HISTORICAL ACTIVITIES
corporations under tlie Tudors threatened English prosperity
the eighth Henry confiscated their property (as has been done
in our day by Mexico and other Latin countries) and redis-tributed
their accumulations. He might have added that
when the new commercial monopolies under his daughter
Elizabeth bade fair to take the place of the suppressed eccle-siastical
foundations in recreating inequality, the Commons
called on her to pause, and that haughty, unbending sover-eign
had the common sense to save her throne by yielding.
Mr. Webster also utilized the occasion to point to the fact
that in Erance, by her exemption of nobles and priests from
taxation, property had gravitated into their hands till the
wild orgy of revolution had retransferred it to the people ;
and he prophesied that the new law in that country which:
by restricting the right to will property had prevented its
accumulation into a few hands would inevitably destroy the
restored monarchy and rebuild the republic. His prophecy
has come true.
The great expounder of the Constitution was right. Power
goes with those who o^vn the property of the country. When
property is widely distributed and a fair share of the com-forts
of life are equally in the reach of all, a country will
remain a republic. When property, by whatever agency,
becomes concentrated in a few hands, a change is impending.
Either the few holders will bring in, as he stated, an army
that will change the government to a monarchy, or revolution
will force a redistribution, as in England and France. That
has been the lesson of history.
In this day of wider intelligence and general education,
let us hope and believe that there is a third way, hitherto
unknown in practice, and that by the operation of just and
wiser laws enacted by the sovereigTity of the people, a more
just and equal distribution of wealth will follow and the
•enjoyment of material well-being will be more generally
diffused among the masses. All power is derived from and
belongs to the people, and should be used solely for their good.